Retail sales in Britain have started to stabilise after ten consecutive months of decline, according to an industry survey.
Sales volumes rose by 2 per cent in the year to March, from a weighted balance of -7 per cent in the year to February, the CBI’s latest retail sales balance has suggested.
There is likely to be a further increase as the business group’s survey was conducted before the Easter trading weekend. However, the industry expects year-on-year sales volumes to fall by about 25 per cent next month as a result of the early Easter.
Martin Sartorius, principal economist at the business lobby group, said: “The stabilisation of retail sales in March should give some hope that the sector’s downturn is bottoming out. The earlier
